There is no doubt that many young die prematurely - or so we think - because of bad choices that effect one's health and well being. But this brings up another question: did they really die prematurely or not? There are many who pursue a lifestyle of sin and wickedness who keep living to a decent old age. A person can speculate all the possibilities why this may be so but will still end up not knowing the answer because God has not told us.
To suggest that a person who dies young was because he/she was displeasing God is not true either. The verse quoted is a wise saying - a proverb. The book is a collection of wise sayings - and absolutes. It takes a wise student to discern which is which.
When I see a godly person die before he reaches his three score and ten and I always believe their mission in life has been completed. To live beyond this time is fruitless, unproductive and disastrous. How do I know? Observation. This concept reaches into life/death issues that bedevil moderns who live in an age in which life can be extended through aggressive intervention by medical experts.
Perhaps another view of this scripture is that the elderly, which are characterized by white hair, have knowledge and wisdom to share that the young do well to take to heart.
My understanding/opinion.
God bless.